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As I said before, we need to let people off the bus, gus


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#11 Drano

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Posted 05 March 2008 - 04:51 PM

Thats something the government should've done all along. Buy the bad loans from banks to reliquify them and don't dick around with the interest rates.
Looks like finaly they are coming to that decision.

Og, with all due respect,

I see no reason why my tax dollars should be making whole the same banks which have systematically enriched their officers and employees, knowing that they were making loans that were destined to be bad.

In fact it infuriates me that all of the people who wrote "liar loans" are not in prison, and being fined everything they got in compensation for their actions. (not to mention punitive damages)

#12 arbman

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Posted 05 March 2008 - 04:55 PM

To put it gently, this is communism, if not outright robbery of the people's tax dollars... I would not want to see these bad loans from stealing from the children's school education, health care, projects needed for the next generations because a bunch of dummies bought the homes at the top TO FLIP FOR A PROFIT as if the bankers did know about it. The prices must correct so that these are cleaned from the system and there is better opportunity for growth instead of accepting these loosing propositions...

Edited by arbman, 05 March 2008 - 04:59 PM.


#13 arbman

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Posted 05 March 2008 - 05:24 PM

There is only one solution: 2 x generational loans, 50, 75, 100 yr loans. Although Japan has them, it didn't stop the deflation in their home prices, it is probably psychological, people didn't want to inherit a loan to their kids...

#14 dcengr

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Posted 05 March 2008 - 06:31 PM

No, I do not think we are in a bull market. There are rallies in a bear market.

And I have a small gold short. Why do you keep asking? Its gone up since I shorted, but by a few percent. I'm not sweating it.

You think bottom picking was this easy that anyone can do it?

As I said before, I'm not even done buying, and I'm planning to buy some more at lower prices.

Many of the weak handed bulls will capitulate before its ready to go up. The stubborn bears will be jubilent and refuse to believe it.

Market will bottom out before commodities. Only people in commodities now are people with no clue. Hence it will be the last to pull out and the drop will be ferocious. But I expect them to swing into stocks at higher prices, so don't expect it to dump real soon. But dump it shall. And a lot of $ will be made shorting it.


Yep, that's exactly how a bull market would work. The question is, are we in a bull market? Evidently you think so. Meanwhile, what are you doing with that gold short of yours?

IT


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#15 ogm

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Posted 05 March 2008 - 07:44 PM

Thats something the government should've done all along. Buy the bad loans from banks to reliquify them and don't dick around with the interest rates.
Looks like finaly they are coming to that decision.

Og, with all due respect,

I see no reason why my tax dollars should be making whole the same banks which have systematically enriched their officers and employees, knowing that they were making loans that were destined to be bad.

In fact it infuriates me that all of the people who wrote "liar loans" are not in prison, and being fined everything they got in compensation for their actions. (not to mention punitive damages)



Because the situation with housing hurts the rest of us. Its not about bailing out them, its about bailing out the innocent bystanders. Who will lose jobs, homes, lives. Thats what the government is for, and thats why people are paying taxes. To use the money for the common greater good.

Pension plans are going under water, Teachers aren't getting paid, people losing jobs and homes... those people who paid their taxes so the government kept them out of trouble in the time of need. That is exactly why they paid those taxes. Its time to use the money properly, instead of squandering them on another useless war or something like that. Speaking of robbery of people's tax dollars.

I'm all for the government bailout. The market is incapable of sorting this mess by itself. The participants are paralized with fear.

Edited by ogm, 05 March 2008 - 07:53 PM.


#16 dougie

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Posted 05 March 2008 - 07:57 PM

DC: what was it Gann said about commodities runaway markets? Take a look at historical bull markets over the last 200 years...dwarf this advance

#17 arbman

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Posted 05 March 2008 - 08:18 PM

I'm all for the government bailout. The market is incapable of sorting this mess by itself. The participants are paralized with fear.


All the gov't has to do is to institute the longer term loans for these people, they should pay every little dime they owe, that's all that's needed to be done, not giving out any free money and dilute people's money or more and more inflation. People have to understand, the banks have to understand that there is no such thing as the free money to bail out the speculators. The greed brought this whole thing up...

I would think if one's payment does not change a whole lot, people would agree to the very long term loans even if it means to pay insane interest over the long term, in fact, the people who are looking to walk out of their homes are mostly the speculators by my definition, the people who put in their lifesavings as the down payment (I did that) and took responsible loans would not be in this position. People who see their own equity (down payment) going negative would not walk away, but it is a no brainer for the people who see that it is all the bank's money...

#18 IndexTrader

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Posted 05 March 2008 - 08:18 PM

No, I do not think we are in a bull market. There are rallies in a bear market.

And I have a small gold short. Why do you keep asking? Its gone up since I shorted, but by a few percent. I'm not sweating it.


I ask because shorting a bull market like gold without a stop seems like about as risky as it gets. I'm interested in how you're going to handle it.

Frankly, I don't know anyone who trades without stop except some of the guys on this board. And of course, if you had no position then you potentially could just wait until it comes back down. That's why I ask. I don't know if you actually have a position, or whether you actually have no stop. But if you keep us posted we'll all know how big a draw down you're evidently willing to take.

OGM trades with no stops either. He says he doesn't need one. And in gold he may well be down close to $90 per contract now.

IT

#19 arbman

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Posted 05 March 2008 - 08:39 PM

IT, everyone started to short a runaway train, this spike will go up to that red line I put up in this topic and it will go there in a few days, that's about $1060-1070 for gold (58 month prior parabola projects to 1104 with peak to peak measurements).

Edited by arbman, 05 March 2008 - 08:47 PM.


#20 dcengr

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Posted 05 March 2008 - 08:40 PM

Don't worry about my stops. If I lose money, I don't think it affects you.

I didn't just roll dice or wake up one morning and said 'its a fine day to short a bull market in gold'. I must have a reason? Maybe the same kind of logic I used shorting NDX in october when rest of the world was bullish on it?

And no, I do not win every trade, but I have long stocks, short gold in place, and I think i'll make money in this trade, even if I lose some in gold.

No, I do not think we are in a bull market. There are rallies in a bear market.

And I have a small gold short. Why do you keep asking? Its gone up since I shorted, but by a few percent. I'm not sweating it.


I ask because shorting a bull market like gold without a stop seems like about as risky as it gets. I'm interested in how you're going to handle it.

Frankly, I don't know anyone who trades without stop except some of the guys on this board. And of course, if you had no position then you potentially could just wait until it comes back down. That's why I ask. I don't know if you actually have a position, or whether you actually have no stop. But if you keep us posted we'll all know how big a draw down you're evidently willing to take.

OGM trades with no stops either. He says he doesn't need one. And in gold he may well be down close to $90 per contract now.

IT


Qui custodiet ipsos custodes?